“I was reading one of your old articles, the one about making decisions,” Paddy said as I joined him at the coffee shop, “and I’ve got some questions.”
“Fire away,” I urged him.
“What separates the good decision-makers from the bad?”
“Good decision-makers aren’t afraid of being wrong,” I told him. “They know the only way to never be wrong is to never make a decision, and they know if they never make decisions they won’t accomplish much.”
“What’s the most important factor in making decisions?” Paddy asked.
“There are two,” I said. “The first is to wait until your emotions are in neutral before making an important decision. Decisions made strictly on the basis of emotion rarely turn out well.”
“Got some examples?” Paddy prompted.
“Let’s start with being too impulsive,” I said. “Impulsive decisions often turn out bad. It could be as benign as buying a new gadget and then realizing you’re never going to use it. Or it could be as serious as falling in love with a house at first blush and neither having it inspected nor giving sufficient thought to future requirements before buying it, with the result being having to move again when things don’t work out.”
“Go on,” he urged.
“Don’t make decisions when you’re angry. Angry people can be even more impulsive than overly enthusiastic people. It’s rare for a good decision to be made in the throes of anger.”
“What’s the second factor?”
“Gathering as much information as you can. Decisions are only as good as the information on which they’re based. To make sound decisions you have to examine all aspects of the situation and not be afraid to ask questions. I’ve rarely, if ever, regretted asking a question, but there’ve been lots of times I’ve regretted not asking one.”
“Go on.” Paddy urged as I paused to take a sip of coffee.
“Reality has to be faced,” I told him. “You can’t change facts by ignoring them. It’s not what you’d like the situation to be that matters, it’s what the situation actually is that has to be dealt with. For example, if you don’t have the time or resources to follow through on a particular plan, a different decision has to be made.”
“Is there such a thing as a decision-making process?” Paddy asked.
“There is,” I answered. “I came across it when I took the Dale Carnegie Course. It’s a five-step formula that went something like this:
State the problem as simply as possible.
List all the causes of the problem.
List every possible solution.
Pick the best possible solution.
Decide what action to take.”
Paddy took a couple of minutes to jot down the formula and then asked, “Anything else to consider?”
“Timing is always an important factor in decision-making,” I told him. “Avoid the two extremes: unwarranted delay and snap decisions. When being pressured into a quick decision, the best answer is always ‘no.’”
“Why’s that?” Paddy inquired
“Because it’s usually easier to change a ‘no’ to a ‘yes’ than vice versa. Never rush a decision unless there’s a compelling reason to do so.”
“And what’s the problem with delay?” He prodded.
“If you wait too long to implement a decision, the situation may have changed so much your plan will no longer work,” I explained
“What if you can’t make up your mind?” was Paddy’s next question.
“That’s the other extreme. Always consider what the consequences of inaction might be.”
“Is there any way to know for sure you’re right?” Paddy asked.
“Not that I know of,” I admitted, “but if both your gut and your brain are telling you you’re right, you probably are.”
“So,” Paddy wondered, “do you get better at making decisions the more you do it?”
“Indeed,” I said. “The more decisions you make, the better you become at curtailing emotions and gathering information; which, incidentally, are both important characteristics of leadership.”
“Got any more points?” Paddy asked.
“Yes,” I said as I noticed a guy at the next table blowing on his coffee. “When you get a mouthful of scalding hot coffee, whatever you do next is going to be wrong.”